ECON 112 Lecture Notes - Lecture 6: Price Ceiling, Economic Equilibrium, Demand Curve

28 views4 pages
24 Sep 2015
Department
Course
Supply,'Demand,'and'Government'Policies
!"#$%%&'()$*+(,'-.()'/0%1*&2$3(4"'5(%1(6('+.$+'+.('2$43(+'
/41*('07'$'800,'04'"(461*('1"'#)7$14'+0'5#&(4"'04'"(%%(4"
19
:41*('*0)+40%"
$9
!"(,'+0'4$1"('4(6()#('704'/#5%1*'/#4/0"("'$),'+0'1)7%#()*('
2$43(+'0#+*02("
19
;$<("
59
='%(8$%'2$<12#2'0)'+.('/41*('$+'-.1*.'$'800,'*$)'5('"0%,
19
>(+'$506('+.('(?#1%1541#2'/41*('$),'+.(4('-1%%'5('
)0'(77(*+'0)'+.('/41*('04'?#$)+1+&'"0%,
$@
A0+'51),1)8
B@
$@
>.04+$8(
5@
C0)8'%1)("
1@
D1"*4121)$+10)'$**04,1)8'+0'"(%%(4"'51$"
11@
>(%%(4"'2#"+'4$+10)'+.('"*$4*('800,"
*@
E1),1)8'*0)"+4$1)+
F@
G0-'+.(&'$77(*+'+.('2$43(+
119
D(2$),'1"'+00'.18.
B@
=,6(4"('(77(*+"'1)'+.('".04+'4#)
1119
H?#1%1541#2'1"'5(%0-'+.('/41*('*(1%1)8' "0'+.(4('1"')0'(77(*+
B@
;.('2$43(+'1"'$5%('+0'4($*.'(?#1%1541#2
F@
A0)'E1),1)8'/41*('*(1%1)8
169
I$#"("'$'".04+$8(
$@
J04(',(2$),(,'+.$)'"#//%1(,
5@
H?#1%1541#2'/41*('1"'$506('/41*('*(1%1)8'
B@
:41*('*(1%1)8'5(*02("'51),1)8'-.()'"#//%&'7$%%"'$),'
4("#%+"'1)'$'".04+$8(
F@
E1),1)8'/41*('*(1%1)8
69
:41*('*(1%1)8
*9
='%(8$%'21)12#2'0)'+.('/41*('$+'-.1*.'$'800,'*$)'5('7%00419
>(+'5(%0-'+.('(?#1%1541#2'/41*($@
A0'(77(*+'0)'+.('2$43(+5@
A0+'51),1)8B@
>(+'$506('+.('(?#1%1541#2'/41*($@
>#4/%#"5@
>02('"(%%(4"'$4('#)$5%('+0'"(%%'-.$+'+.(&'-$)+*@
J04('"#//%1(,'+.$)',(2$),(,,@
E1),1)8'*0)"+4$1)+F@
=77(*+'1)'+.('2$43(+119
!)(2/%0&2()+$@
G18.(4'1)*02('704'-043(4"'-.0'.$6('K05"5@
C0-(4'1)*02('704'-043(4"'-.0'*$))0+'71),'K05"*@
L7'21)12#2'-$8('1"'$506('(?#1%1541#2B@
J1)12#2'-$8('(<$2/%(1119
:41*('7%004,9
H*0)021"+"'#"#$%%&'0//0"('/41*('*(1%1)8"' $),'/41*('7%004"B@
:41*("'$4(')0+'+.('0#+*02('07'"02('.$/.$M$4,'/40*(""F@
:41*("'.$6('+.('*4#*1$%'K05'07'5$%$)*1)8'"#//%&'$),'
,(2$),
N@
J$43(+"'$4('#"#$%%&'$'800,'-$&'+0'048$)1M('(*0)021*'$*+161+&19
E(*$#"('07'#)7$14'2$43(+'0#+*02($@
=12(,'$+'.(%/1)8'+.('/0045@
O$)+'+0'#"('/41*('*0)+40%"B@
P7+()'.#4+'+.0"('+.(&'$4('+4&1)8'+0'.(%/F@
Q()+'"#5"1,1("$@
O$8('"#5"1,1("5@
P+.(4'-$&"'07'.(%/1)8N@
R06(4)2()+"'*$)'"02(+12("'12/406('2$43(+'0#+*02("119
H6$%#$+1)8':41*('I0)+40%"(9
I0)+40%"'0)':41*("
L9
Q0$,"S'"*.00%"S'$),')$+10)$%',(7()"(B@
;0'4$1"('4(6()#('704'/#5%1*'/40K(*+"19
R06(4)2()+'#"('+$<("$9
J$))(4'1)'-.1*.'+.('5#4,()'07'$'+$<'1"'".$4(,'$20)8'
/$4+1*1/$)+"'1)'$'2$43(+
19
>#//%&'*#46('-1%%'".17+'%(7+'5&'+.('T+$<S'+.()'&0#'.$6('+0'71),'
-.$+'+.(')(-'/41*('(?#1%1541#2'1"'$),'+.$+'1"'+.('/41*('+.$+'+.('
5#&(4"'/$&S'+.('/41*('+.$+'+.('"(%%(4"'8(+'1"'+.$+'/41*('U+.('+$<9
119
;$<'1)*1,()*(59
>.17+'1)'"#//%&B@
L22(,1$+('12/$*+'0)'"(%%(4"19
>#//%&'*#46('".17+"'%(7+119
G18.(4'(?#1%1541#2'/41*(1119
C0-(4'(?#1%1541#2'?#$)+1+&169
;.('+$<'4(,#*("'+.('"1M('07'+.('2$43(+69
;$<("',1"*0#4$8('2$43(+'$*+161+&619
E#&(4"'$),'"(%%(4"' ".$4('+.('5#4,()'07'+$<6119
E#&(4"'/$&'204(S'-04"('07761119
R(+'+.('.18.(4'/41*('5#+'/$&'+.('+$<B@
P6(4$%%V'(77(*+16('/41*('7$%%F@
>(%%(4"'4(*(16('%(""S'$4('-04"('0771<9
G0-'+$<("'0)'"(%%(4"'$77(*+'+.('2$43(+'0#+*02("*9
L)1+1$%'12/$*+'0)'+.(',(2$),19
D(2$),'*#46('".17+"'%(7+119
C0-(4'(?#1%1541#2'/41*(1119
C0-(4'(?#1%1541#2'?#$)+1+&169
;.('+$<'4(,#*("'+.('"1M('07'+.('2$43(+69
E#&(4"'$),'"(%%(4"' ".$4('+.('5#4,()'07'+$<619
E#&(4"'/$&'204(S'-04"('0776119
H77(*+16('/41*('W-1+.'+$<@'41"("B@
E#&(4"'/$&'$'%0-(4'2$43(+'/41*(S'$4('-04"('07761119
G0-'+$<("'0)'5#&(4"'$77(*+'2$43(+'0#+*02(",9
;.('"$2(S'4(8$4,%(""'07'-.(+.(4'+.('+$<'1"'%(61(,'0)'
5#&(4"'04'"(%%(4"
B@
O(,8('5(+-(()'+.('/41*('+.$+'5#&(4"'/$&'$),'+.('/41*('+.$+'
"(%%(4"'4(*(16(
19
E#&(4"'$),'"(%%(4"' ".$4('+.('+$<'5#4,()B@
>.17+"'+.('4(%$+16('/0"1+10)'07'+.('"#//%&'$),',(2$),'*#46("119
;$<("'%(61(,'0)'"(%%(4"'$),'+$<("'%(61(,'0)'5#&(4"'$4('(?#16$%()+(9
>(%%(4"'5($4'$'"2$%%'5#4,()'07'+$<B@
E#&(4"'5($4'20"+'07'+.('5#4,()F@
X(4&'(%$"+1*'"#//%&'$),'4(%$+16(%&'1)(%$"+1*',(2$),19
>(%%(4"'5($4'20"+'07'+.('+$<'5#4,()B@
E#&(4"'5($4'$'"2$%%'5#4,()F@
Q(%$+16(%&'1)(%$"+1*'"#//%&'$),'6(4&'(%$"+1*' ,(2$),119
H%$"+1*1+&'$),'+$<'1)*1,()*(79
Y$%%"'204('.($61%&'0)'+.('"1,('07'+.('2$43(+'+.$+'1"'%(""'(%$"+1*19
E#&(4"',0')0+'.$6('800,'$%+(4)$+16("'+0'*0)"#21)8'+.1"'
800,
B@
>2$%%'(%$"+1*1+&'07',(2$),119
>(%%(4"',0')0+'.$6('800,'$%+(4)$+16("'+0'/40,#*1)8'+.1"'
800,
B@
>2$%%'(%$"+1*1+&'07'"#//%&1119
;$<'5#4,()89
;$<("LL9
Chapter(6
O(,)(",$&S' >(/+(25(4' BZS'F[B\
BV]N':J
Unlock document

This preview shows page 1 of the document.
Unlock all 4 pages and 3 million more documents.

Already have an account? Log in

Get OneClass Notes+

Unlimited access to class notes and textbook notes.

YearlyBest Value
75% OFF
$8 USD/m
Monthly
$30 USD/m
You will be charged $96 USD upfront and auto renewed at the end of each cycle. You may cancel anytime under Payment Settings. For more information, see our Terms and Privacy.
Payments are encrypted using 256-bit SSL. Powered by Stripe.